Sanctuary Advisors LLC Raises Position in Spotify Technology S.A. (NYSE:SPOT)

Sanctuary Advisors LLC raised its position in Spotify Technology S.A. (NYSE:SPOT - Free Report) by 115.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,444 shares of the company's stock after buying an additional 8,282 shares during the quarter. Sanctuary Advisors LLC's holdings in Spotify Technology were worth $5,692,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in SPOT. Wealth Enhancement Advisory Services LLC lifted its position in shares of Spotify Technology by 8.6% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 4,683 shares of the company's stock worth $1,469,000 after buying an additional 372 shares during the last quarter. Blue Trust Inc. boosted its stake in shares of Spotify Technology by 108.0% in the 2nd quarter. Blue Trust Inc. now owns 181 shares of the company's stock valued at $57,000 after purchasing an additional 94 shares in the last quarter. Brookstone Capital Management boosted its position in Spotify Technology by 4.6% in the second quarter. Brookstone Capital Management now owns 1,339 shares of the company's stock valued at $395,000 after buying an additional 59 shares in the last quarter. First Horizon Advisors Inc. grew its stake in shares of Spotify Technology by 124.9% during the second quarter. First Horizon Advisors Inc. now owns 452 shares of the company's stock worth $142,000 after buying an additional 251 shares during the last quarter. Finally, Dakota Wealth Management acquired a new position in shares of Spotify Technology during the second quarter worth $494,000. 84.09% of the stock is currently owned by institutional investors and hedge funds.

Spotify Technology Stock Up 0.3 %

NYSE:SPOT traded up $1.66 on Monday, hitting $484.97. The stock had a trading volume of 1,398,494 shares, compared to its average volume of 2,060,492. The company has a market cap of $96.53 billion, a PE ratio of 132.56 and a beta of 1.61. Spotify Technology S.A. has a 52 week low of $185.37 and a 52 week high of $506.47. The business's fifty day moving average is $426.66 and its 200 day moving average is $363.77.

Spotify Technology (NYSE:SPOT - Get Free Report) last issued its earnings results on Tuesday, November 12th. The company reported $1.45 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.75 by ($0.30). The firm had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $4.03 billion. Spotify Technology had a return on equity of 19.07% and a net margin of 4.66%. Spotify Technology's revenue for the quarter was up 18.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.36 earnings per share. Equities analysts predict that Spotify Technology S.A. will post 6.02 earnings per share for the current fiscal year.

Analysts Set New Price Targets

SPOT has been the topic of several recent research reports. Macquarie raised their price objective on Spotify Technology from $395.00 to $500.00 and gave the company an "outperform" rating in a report on Wednesday, November 13th. Canaccord Genuity Group lifted their price target on Spotify Technology from $525.00 to $560.00 and gave the company a "buy" rating in a research note on Monday, December 2nd. TD Cowen upped their price objective on Spotify Technology from $356.00 to $416.00 and gave the company a "hold" rating in a research note on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Spotify Technology from $430.00 to $440.00 and gave the stock a "buy" rating in a research report on Wednesday, November 6th. Finally, Evercore ISI upped their price target on shares of Spotify Technology from $420.00 to $460.00 and gave the company an "outperform" rating in a research report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-two have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $429.96.

Spotify Technology Company Profile

Spotify Technology SA, together with its subsidiaries, provides audio streaming subscription services worldwide. It operates through two segments, Premium and Ad-Supported. The Premium segment offers unlimited online and offline streaming access to its catalog of music and podcasts without commercial breaks to its subscribers.